RA Capital Healthcare Fund LP 4

What Happened

• Dr. Jake Simson, a Partner at RA Capital Management and a Septerna (SEPN) director, is reported as the beneficiary of a derivative award: an option covering 15,000 Septerna shares. The grant was reported as acquired on 2026-06-26 at $0.00 (i.e., an option award rather than a cash purchase). This was not an exercise/sale — it is an award of an option that vests in the future.

Key Details

• Transaction date: 2026-06-26; filing date: 2026-06-30.
• Transaction type: Grant/Award of a derivative (option) for 15,000 shares at $0.00.
• Vesting: The option vests in full upon the earlier of (i) June 26, 2027 or (ii) the issuer’s next annual meeting of stockholders, subject to continued service.
• Ownership after transaction: Not specified in the filing.
• Beneficial ownership disclaimers: RA Capital Management, L.P. (the Adviser) and related entities disclaim beneficial ownership except to the extent of pecuniary interest. Dr. Simson holds the option for the benefit of RA Capital funds and is obligated to turn over any net cash or stock received upon exercise to the Adviser to offset advisory fees.
• Timeliness: Filing occurred four days after the transaction date; Form 4s are generally due within two business days of the transaction — consider checking the filing’s timeliness status if that matters to you.

Context

• This is an option award (derivative grant), not a market purchase or sale; the shares are not immediately issued and were not sold. Such awards are commonly used for compensation or as part of governance/board arrangements.
• The reporting entity is a 10% institutional owner and investment adviser; the filing reflects the adviser/funds’ economic arrangement rather than a straightforward personal buy or sell by an independent insider.